ASX Listed Lithium Australia's Envirostream bags funding from Sustainability Victoria

  • October 30, 2020 10:59 PM AEDT
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ASX Listed Lithium Australia's Envirostream bags funding from Sustainability Victoria

Summary

  • Sustainability Victoria allocated Envirostream AUD 201,399 of funding for 'Electrolyte Management in Rechargeable Battery Recycling' project. 
  • Sustainability Victoria is supporting Envirostream under Round 2 of its E-Waste Infrastructure Grants that prioritises e-waste reprocessing capability and capacity and the collection and storage of e-waste.
  • Envirostream has built a process for recycling used LIBs that safely captures the toxic electrolyte components in liquid form.
  • Envirostream offers a unique solution in the country to gather, sort, shred and separate all the components of used lithium-ion batteries and single-use alkaline batteries.

In a significant development, Lithium Australia NL's (ASX: LIT) subsidiary Envirostream has been granted funding from Sustainability Victoria.

Lithium Australia is committed for an ethical and sustainable supply of energy metals to the battery industry and creating a circular battery economy. The recycling of used lithium-ion batteries (LIB) is at the core of its plan. 

On 30 October 2020, LIT announced that Sustainability Victoria allocated Envirostream a funding of AUD 201,399 for 'Electrolyte Management in Rechargeable Battery Recycling' project. Sustainability Victoria has confirmed its support for the Envirostream's project under Round 2 of its E-Waste Infrastructure Grants.

Must read: Envirostream follows the best practices in battery recycling: Lithium Australia

E-Waste Infrastructure Grants, Round 2 of Sustainability Victoria prioritises e-waste reprocessing capability and capacity and the collection and storage of e-waste. It gets accomplished through alternate non-fixed collection and storage solutions and investment in fixed, semi-permanent e-waste infrastructure upgrades.

Image Source: © Kalkine Group 2020, data source: ASX announcement dated 30 October 2020

The background

The batterie wastes that mainly include used LIB's are hazardous for the environment if not managed properly. They contain toxic electrolyte components that can be released into the environment during recycling. In Australia, battery stewardship is set to become a reality, and Envirostream is all prepared for this scenario.

Currently, in Australia, the quantity of e-waste is growing three times faster than that of general waste, and most of it contains spent lithium-ion batteries.

Management of this e-waste material is a massive problem in Australia. The Victorian government had already banned the disposal of e-waste in a landfill on 1 July 2019. 

The solution

Envirostream's principal area of expertise is the recycling of the used lithium-ion batteries. Through constant research and development, Envirostream has built a process for recycling used LIBs that safely extracts those electrolyte components in liquid form.

The company's electrolyte management project will allow battery recycling facility in Victoria to safely grow production capacity as its battery retrieval network expands to cope with the growing quantities of properly discarded used LIBs that the stewardship scheme will deliver.

Also read: Lithium Australia's Recycling Arm Envirostream Begins Micronutrient Field Trials In WA; Stock spikes

Envirostream offers a unique solution to gather, sort, shred and separate all the components of used lithium-ion batteries and single-use alkaline batteries. This makes it a perfect fit with LIT's critical battery-metal-processing expertise. Envirostream's e-waste management solutions are safe, innovative and sustainable. 

About Envirostream

Envirostream Australia Pty Ltd is an onshore mixed-battery recycling company. The company already has contracts with various retailers and manufacturers regarding the stewardship of spent batteries. Envirostream is in the process of growing its collection network throughout Australia, using safe, reliable units that are fully compliant with the country's standards.

Stock performance: On 30 October 2020, LIT closed the day's trade at AUD 0.051, up by 4.081 per cent.

 


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